RCBC Pulz Qorus-Infosys Finacle Banking Innovation Awards 2024

Brick-and-mortar banks in the Philippines were mainly focused on targeting affluent consumers in urban areas while overlooking the potential that underbanked and unbanked segments of the population have on their bank’s performance and the overall financial inclusion campaign of the country. In addition, millions of Filipinos remain unbanked because of lack of access to financial literacy modules, while millions of banked Filipinos are yet to maximize the wide range of financial solutions for their personal and professional needs.

Aside from the Bangko Sentral ng Pilipinas’ challenge for banks to jump into the nation’s financial inclusion campaign, these factors inspired RCBC to embark on its massive digital transformation campaign anchored upon ‘Innovations with Empathy’. While other brick-and-mortar banks as well as digital banks focused on getting their lion shares of the affluent market, RCBC invested heavily on financially inclusive solutions such as RCBC Pulz, RCBC Diskartech, and RCBC ATM Go to service remote, rural, and OFW communities, which are often undermined and excluded from the financial inclusion vision and plans of banks.

The Digital Enterprise and Innovations Group of RCBC leads the initiative of scaling and promoting the bank’s digital solutions to remote, rural and OFW communities. Its primary goal is to connect the Philippines, specifically remote and rural areas, to the world, especially OFW and Filipino expat communities. Through its various digital channels, RCBC is able to connect Filipinos nationwide and all-over the world, and help materialize their short-term and long-term goals through digital banking solutions and services.

By setting this distinct market target and creating a unique selling proposition, RCBC set itself apart from other banks and emerged as one of the multi-awarded digital banking institutions and as the leading digital challenger bank in the country.